5 Things We Like About Benefit Corporations

Entrepreneurs, take note! There’s big news on the B Corporation front – this August, Delaware became the 19th state to enact benefit corporation legislation, a move that signals the new business entity’s staying power.

While it’s true that 18 other states and D.C. are already on board the B Corp train, Delaware has an especially longstanding, notable reputation as a corporate haven, and as an important and influential player in the business community.  In other words, people in business pay extra attention to Delaware, and when Delaware passed benefit corporation legislation, it was a very big deal. The state’s legal recognition of benefit corporations will spark more momentum for a movement that aims to sink legal teeth into the notion that companies should mold their missions to benefit society as a whole, instead of primarily focusing on maximizing profits for shareholders.

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50 States of Incorporation: Delaware

Tucked away on the East Coast and the sixth most densely populated state in the United States, “The First State” Delaware holds another nickname when it comes to business as the “incorporation capital of the world.”

Delaware is the legal home to more than a million business entities, including 50% of all U.S. publicly traded companies and 64% of the Fortune 500. Additionally, the state recently became 19th state to enact benefit corporation legislation, allowing companies the ability to register within Delaware as a benefit corporation.

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